Bond Issue
As you know the city has been pursuing an infrastructure repair program for the past 20 years. Many, many streets have been rebuilt, along with water and sewer lines, as well as city facilities such as expanding the police department, the library, the municipal court, and the like. Also, the ½ cent optional sales tax, approved by voters, has paid for the recreation center, outdoor pool, youth sports complex, golf course and civic center and plaza. Currently the ½ cent sales tax is paying for the next phase of the Downtown Revitalization Project.
Because of the city’s debt payment schedule, our debt service payment is scheduled to drop in 2010 and again in 2013. This would allow “room” for a possible bond issue without the need to raise the current 39 cent tax rate, which by the way, is one of the lowest tax rates in the state of Texas for cities over 10,000 populations.
City Council recruited a fifteen member volunteer Citizens Bond Task Force to examine whether a street and/or drainage bond issue should be called for May, 2010. The Citizen Bond Task Force met twice monthly September thru November. They came up with a bond package proposal and presented it to City Council on December 7, 2009.
Letter to City Council - December 7, 2009
Bond Package Proposal
Open Forum Presentation - November 12, 2009
The Lake Jackson City Council has called for an election to be held on May 8, 2010, to allow citizens to vote on a $7,000,0000 bond program.
